§ 56. Mr. Barnettasked the Secretary of State for Economic Affairs, if he will make a statement on the work of the Industrial Reorganisation Corporation.
§ Mr. DellSince the statement in reply to my hon. Friend on 9th November last, the Industrial Reorganisation Corporation has continued its task of promoting reorganisation and development in industry. It has agreed to provide financial assistance to mergers in the nucleonic instrument and pressure vessel industries and to make a loan of £25 million to the British Leyland Motor Corporation. Financial help has been given under Section 2(1)(b) of the I.R.C. Act to the Reed Paper Group in order to develop production of newsprint from de-inked waste paper. The Corporation has also been associated with other mergers without undertaking a financial commitment.